Barrick Gold reduced production from 8 million ounces annually to 4 million ounces, demonstrating that large-scale mining models are unsustainable; replacing 8M oz/yr production requires discovering and developing ~20M oz/yr in reserves, which is impossible in modern exploration environment; this argues structurally for shift to smaller, cash-positive mines.
factualpending
Speaker
Gerald PanonEvidence Quote
“remember baric used to produce 8 million oun of gold a year and now they are producing 4 Mill million ounces what happened it's impossible to maintain the cap at 8 million ounces without buying without you cannot find enough gold when you produce 8 million ounces a year you need to find 20 every year”
Source
The Biggest Problem With Junior Mining, the Story of a Mine Builder, and a Different Copper Porphyry— Resource TalksCreated: 8/13/2026, 4:56:03 AM
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